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requesting info/opinions on Searey financing&life insurance option |
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Ben Bienvenu - Jun 26,2007
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Does anyone have input on financiers/lenders for a Searey - specifically, how long can one get a loan amortization - 7 - 10 yrs?<br /><br />I am aware that my company life insurance policy has exclusions for private aviation... does AOPA have the best plan by anyone's opinion and what other providers might I consider. I am low hr taildragger and 38, professional w/good driving record. I have no float plane experience other than riding on a demo flight.<br /><br />Many thanks
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Kevin D'Angelo - Jun 27,2007
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best bet for financing is a home equity loan. To get insurance for the bird you will need to get your seaplane rating and then get at least 10 hours dual at the factory with Paige or Kerry. <br />Best to take out a good life insurance before you start flying that doesn;t have any exclusions for experimental aircraft. The food policies won't have the exclusions if you apply before you fly them. They will ask if you fly experimental in the application. You willl say no and once you have the policy they can't deny coverage. You have to read the policy fine print.
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Chris Vernon-Jarvis - Jun 27,2007
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Same here Kevin.<br /><br />Check current policies. Mine specifically excluded all GA flying but when I wanted to take it up again about 8 years later they said that it was fine as I was already an insured.
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John Slot - Jun 28,2007
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Just to add on: <br />Insurance - 200 hours total time was the min (SES, and tailwheel endorsement)<br />Life insurance - They will ask if you 'intend to fly...' you don't intend...  (If you want the name of the firm I used just send me an email.)<br /> <br />Good Luck (p.s. Ben take your time learning the SeaRey and fly with folks that know the aircraft and it will be the most fun you've ever had in an airplane <br />
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